IronX is a virtual asset exchange which was set up in June this year by the IronFX Group, in conjunction with EmurgoHK, who are also the pioneers of the Cardano (ADA) DLT project. The exchanged has been granted the approval by the Estonian Financial Intelligence Unit (FIU). The firm now has the license to carry out business activities in the region as a fully regulated virtual asset trading venue.

As a result of the approval, IronX is now among the initial exchanges in the entire region of Europe to achieve such an accomplishment. This is according a report by to Finance Magnates.

To Support Virtual Asset-To-Fiat Transactions

While the continent of Europe is largely a virtual asset friendly region, several bitcoin-linked firms are yet to be granted approvals by supervisory bodies. A report released by Finance Magnates indicate that IronX has included its name in the chronology of books as being among the few virtual asset trading platforms to apply for and get the full endorsement of a fiscal regulator.

As a result of being granted the license, IronX will now be in a position of providing its clients with crypto-to-fiat transactions, virtual asset wallet services, as well as a conventional margin trading, among a host of other services.

The firm is thrilled at being one of the initial recipients of both provider of crypto to fiat exchange service as well as provider of crypto wallet services. Having been founded in 2010, the firm has its head office in Limassol, Cyprus.

It is worth noting that the joint parent firm of IronX, which is called the IronFX is one of the key forex brokerage companies which is providing customers with CFDs, fiscal services as well as forex trading. The platform is regulated by the Financial Conduct Authority (FCA), which is tasked with the responsibility of regulating platforms in the United Kingdom. IronX also has the endorsement of a number of regulators in South Africa, Cyprus, as well as Australia.

Getting hold of a virtual asset license for the IronX virtual asset exchange was a really quick and smooth procedure for the firm. According to the chairman and founder of the IronFX Group, Markos Kashiouris, the firm has a total of eight years in the derivative and commodity trading industry. This has been instrumental in assisting the firm to realize its goal of an all in one trading stand for its customers.

Markos also asserts that the company now stands out among several other rivals in the industry. This is because it is now in a position of permitting investors, be they private or institutional, to transaction in virtual assets within the protected space. The same investors would carry out transactions as they would trade forex, equities as well as other tradable assets.

Markos also confirmed that the Beta version of the exchange is expected to be active before the end of this month. However, only VIP IRX virtual asset holders will be permitted to use this particular platform for now.

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